Q2 2019 QCR Holdings Inc Earnings Call Transcript
Good day and welcome to the QCR Holdings, Inc.'s Second Quarter 2019 Conference Call and Webcast. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Larry Helling, CEO. Please go ahead.
Thank you, operator. Welcome, ladies and gentlemen, and thank you for taking time to join us today. I will start the call with a brief overview of our second quarter, and Todd Gipple will finish up with additional details on our financial results.
We are very pleased with our financial and operating performance for the quarter. We posted record quarterly net income, driven by strong organic loan and deposit growth, record fee income, excellent credit quality, and careful management of noninterest expenses. We successfully deployed our increase in core deposits during the quarter with solid loan and lease production, while maintaining disciplined underwriting.
The higher average loan balances, combined with stable net interest
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